Marcus & Millichap Arranges The Sale Of A 24,000-Square Foot Industrial Building
LEE’S SUMMIT, MISSOURI, August 24, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Midland Marble & Granite, LLC, a fully occupied, 24,000-square foot industrial flex property located in Lee’s Summit, Missouri.
Adam Abushagur, senior managing director investments, Tyler Sharp, senior associate, and Jacob Crabtree, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The 1031-exchange buyer was procured via collaboration with another Marcus & Millichap agent out of Houston.
“The TAG Team facilitated seven offers, five of which were in the first week of marketing,” said Sharp, “In addition, we enjoyed assisting the seller in unlocking equity to finance a future acquisition of building improvement.”
“Losing our first potential buyer proved to be a challenge; however, our resources allowed us to collaborate quickly with another Marcus & Millichap agent representing the buyer, who ultimately acquired the property all cash,” commented Crabtree.
“The national, regional, and local platform of Marcus & Millichap benefited both the seller and the buyer in this transaction,” said Abushagur.
Midland Marble & Granite, LLC is located at 2077 Northeast Rice Road in Lee’s Summit, Missouri. The subject property is situated on 3.29 acres of land and was built in 1999.
Midland Marble & Granite has been serving the Greater Kansas City Area for over 25 years.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.